Tane Cabe’s Post

Previous generations of older Americans largely paid off their mortgage debt by the time they retired, but today, many older adults are housing cost-burdened, paying more than 30% of their income on housing expenses, according to the Urban Institute. This is also a contributor as to why we have such limited inventory, when folks move those costs tend to increase. But, with the right strategies, we could make it work for you and your family. Check out the full, informative article here: https://vist.ly/tdzy #urbaninstitute #housing #mortgage #security #HOMEisHERE

Recent Harvard reports reveals many homeowners are financially strained by rising costs, while renters face soaring rents, often spending over half their income on housing. With fierce competition driving prices up and mortgage rates remaining high, urgent measures like proposed rent caps and reduced mortgage insurance aim to provide relief. Meanwhile, local reforms are aiming to make homeownership more accessible through easier down payments and simplified mortgage processes. Read more here: https://lnkd.in/eefyHgEW

Why can’t Americans pay their mortgage? It’s complicated. In 2024, rising living costs are making it harder for many to keep up with their debts. Yet, mortgage delinquencies are at a near-record low—only 1.7% of mortgages were delinquent in early 2024. The reason? Many locked in low interest rates before rates surged. However, income drops remain the biggest issue, with 27.2% of people citing it as the main reason they fell behind. Add rising non-mortgage debts and unemployment, and financial struggles are becoming more common. It’s a balancing act. While many homeowners are shielded now, future risks could push more people toward delinquency. #MortgageStruggles #CostOfLiving #DelinquenciesLow #LowInterestRates #ReducedIncome #OverwhelmingDebt #Unemployment #EconomicTrends #FinancialStability #HousingMarket #LUM #LevelUpMortgage #MortgageBroker #Arizona #Indiana #ArizonaRealEstate #IndianaRealEstate #IndianaRealtor #ArizonaRealtor

🔔 Attention Real Estate Agents and Realtors! Reach more borrowers with greater savings! The Federal Housing Finance Agency (FHFA) has updated the area median income (AMI) limits for 2024, with most areas showing an increase over 2023. 🌟 This update allows you to offer more flexibility and affordable lending opportunities to your clients. Freddie Mac uses these AMI limits to determine eligibility for programs like Home Possible® and Refi Possible®. Here's a quick guide to eligibility based on AMI limits: 1️⃣ Home Possible®: Income must be ≤ 80% of the AMI for the property location. 2️⃣ Refi Possible®: Income must be ≤ 100% of the AMI for the property location. Take advantage of these updated AMI limits to better serve your borrowers and offer more affordable mortgage options! 🏡💸 #AffordableHousing #FreddieMac #HomePossible #RefiPossible #HFAAdvantage #PresidentialBankMortgage #IndustryNews

🔔 Attention Real Estate Agents and Realtors! Reach more borrowers with greater savings! The Federal Housing Finance Agency (FHFA) has updated the area median income (AMI) limits for 2024, with most areas showing an increase over 2023. 🌟 This update allows you to offer more flexibility and affordable lending opportunities to your clients. Freddie Mac uses these AMI limits to determine eligibility for programs like Home Possible® and Refi Possible®. Here's a quick guide to eligibility based on AMI limits: 1️⃣ Home Possible®: Income must be ≤ 80% of the AMI for the property location. 2️⃣ Refi Possible®: Income must be ≤ 100% of the AMI for the property location. Take advantage of these updated AMI limits to better serve your borrowers and offer more affordable mortgage options! 🏡💸 #AffordableHousing #FreddieMac #HomePossible #RefiPossible #HFAAdvantage #PresidentialBankMortgage #IndustryNews

🔔 Attention Real Estate Agents and Realtors! Reach more borrowers with greater savings! The Federal Housing Finance Agency (FHFA) has updated the area median income (AMI) limits for 2024, with most areas showing an increase over 2023. 🌟 This update allows you to offer more flexibility and affordable lending opportunities to your clients. Freddie Mac uses these AMI limits to determine eligibility for programs like Home Possible® and Refi Possible®. Here's a quick guide to eligibility based on AMI limits: 1️⃣ Home Possible®: Income must be ≤ 80% of the AMI for the property location. 2️⃣ Refi Possible®: Income must be ≤ 100% of the AMI for the property location. Take advantage of these updated AMI limits to better serve your borrowers and offer more affordable mortgage options! 🏡💸 #AffordableHousing #FreddieMac #HomePossible #RefiPossible #HFAAdvantage #PresidentialBankMortgage #IndustryNews

🔔 Attention Real Estate Agents and Realtors! Reach more borrowers with greater savings! The Federal Housing Finance Agency (FHFA) has updated the area median income (AMI) limits for 2024, with most areas showing an increase over 2023. 🌟 This update allows you to offer more flexibility and affordable lending opportunities to your clients. Freddie Mac uses these AMI limits to determine eligibility for programs like Home Possible® and Refi Possible®. Here's a quick guide to eligibility based on AMI limits: 1️⃣ Home Possible®: Income must be ≤ 80% of the AMI for the property location. 2️⃣ Refi Possible®: Income must be ≤ 100% of the AMI for the property location. Take advantage of these updated AMI limits to better serve your borrowers and offer more affordable mortgage options! 🏡💸 #AffordableHousing #FreddieMac #HomePossible #RefiPossible #HFAAdvantage #PresidentialBankMortgage #IndustryNews

Hayley needed to consolidate personal debts into her mortgage. As an NHS worker she had various types of income and we were able to use all of them towards her mortgage affordability. We looked at all the options and enabled her to make an informed and educated decision. We lowered her monthly payments and eased the financial stress each month. Overall the interest cost will be higher. But sometimes you need to sort today out before you can look at tomorrow. We offer specific advice tailored to your own situation and needs. #googlereviews #customerreviews #5starreview #mortgageoffer #NHS #debtconsolidation #mortgageadvice #mortgagebroker

Why are so many Americans struggling with their mortgages in 2024? It’s not a simple answer. The rising cost of living is making it tough for people to keep up with their mortgage payments, even though delinquencies are at near-record lows (only 1.7%). Many homeowners locked in low interest rates before the hikes, shielding them from higher payments. But others are falling behind due to reduced income (27.2%), overwhelming debt (18.1%), or unemployment (11.2%). While things are stable now, any downturn could lead to more struggles. Keep an eye on this trend. #MortgageStruggles #CostOfLiving #DelinquenciesLow #LowInterestRates #ReducedIncome #OverwhelmingDebt #Unemployment #EconomicTrends #FinancialStability #HousingMarket #LUM #LevelUpMortgage #MortgageBroker #Arizona #Indiana #ArizonaRealEstate #IndianaRealEstate #IndianaRealtor #ArizonaRealtor